Compass Offices lease entire office floor in North Sydney

Global flexible workspace provider, Compass Offices, has leased an entire floor at Dexus’s 141 Walker Street in North Sydney through Colliers International.

The group signed a long-term lease across 950 square metres commencing Q3 2019. 

“Compass decided to take space in North Sydney due to the location of 141 Walker Street – the existing A Grade building will benefit from increased amenity flowing from the regeneration of the North Sydney office market, including the new Victoria Cross Metro Station currently under construction,” said Dan Walker, Director-In-Charge of Colliers International, North Sydney.  

“Furthermore, North Sydney is seen as a viable and more affordable alternative to the Sydney CBD.”  

Currently, A grade rents in North Sydney are around $800 per sqm. 

Sami Schiavi, Flexible Workplace Specialist at Colliers International said, “Companies such as Compass are responding to increasing demands for flexible workspace, which has experienced a 47% growth rate in Sydney, including the fringe and North Sydney markets, compared to 2018.” 

Andrew Rothstadt, Compass Offices’ Australian Country Manager said, “North Sydney has been a target growth area for us for some time and we are delighted to be bringing Compass Offices to the Lower North Shore.”

Other flexible space providers that have also taken space in North Sydney include WeWork at 50 Miller Street, and Victory Offices at Dexus’s newly developed 100 Mount Street, while another group JustCo is actively looking.